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BRIEF-VisionChina Media provides update on sale of Subway Mobile TV advertising business
August 22, 2016 / 12:56 PM / a year ago

BRIEF-VisionChina Media provides update on sale of Subway Mobile TV advertising business

Aug 22 (Reuters) - Visionchina Media Inc :

* Visionchina Media provides further update on sale of Subway Mobile TV advertising business

* Says unit entered into new equity transfer agreement, new profit compensation agreement with Ledman Optoelectronic Co. Ltd

* Deal for an aggregate consideration of RMB382.2 million

* Visionchina media inc says upon closing of new transaction, Ledman will pay an installment of rmb321.2 million in cash to Visionchina Media Group

* Says unit to sell 49% equity interests in Visionchina New Culture Media Co., Ltd

* Says “we remain open in future to sell remaining 51% of our equity position in new culture” Source text for Eikon: Further company coverage:

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